MP Seeks investigation into property investor ads

7.13.03pm BST (GMT +0100) Mon 6th Sep 2004

MP Vincent Cable has asked the local trading standards office and the national, financial, regulator - 'the Financial Services Authority' - to investigate a company (Challenor Investments). It is inviting Twickenham residents to ring an 0870 number (0870 855 5711) in order to find the venue for a 'seminar' on Thursday at which they will learn how to make a fortune from property investment at no cost to themselves.

Vincent Cable said this was the second such property promotion scheme doing the rounds in Twickenham and "I am worried about it. I don't know whether it is a 'scam' or not, but it seems very suspect. The company's address is not given. The costs are not explained. No reference is made to the losses which could be incurred in the property market, which is probably now at its peak; it is implied that residents can easily make their fortune, that making money is easier than working".